Mobile commerce companies will have an opportunity to prove themselves this year
This year is expected to determine whether mobile payments will become a widely accepted phenomenon or little more than a passing fancy. In 2013, several of the brands investing in mobile commerce solutions will have their platforms exit the testing phase, becoming widely available to consumers around the world. Those that can entice the interests of consumers are expected to thrive, whereas those that are not well received are likely to fail.
Consumers are becoming more mobile
Part of what makes this year so important for the mobile payments sector is the fact that smartphone and tablet saturation is reaching an all time high. More consumers have access to smartphones and tablets now than they ever have in the past. This makes them more susceptible to the allure of mobile commerce. Moreover, media consumption is beginning to favor the mobile space, meaning that more consumers are relying on their mobile devices for their daily content rather than other platforms. For mobile commerce companies, these trends are of vital importance.
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Comprehensive mobile commerce services likely to find success
As more consumers begin to embrace the mobile world, large brands are beginning to invest more heavily into mobile commerce. Mobile startups are beginning to be put to the test and those that offer comprehensive and easy to use mobile payments services are expected to beat out their competitors. There is no shortage of competition, of course, as there are literally thousands of mobile applications that offer some form of mobile commerce service to consumers. The trick, however, is finding a business model that is able to capture the support of consumers.
Freemium model shows most promise
So far, the freemium model is among the most successful in the mobile commerce realm. Freemium refers to the practice of offering a free service with the absolute lowest level of features being offered to consumers. Consumers have the option to pay a fee to unlock new features or sign up for a subscription to access all the features that the platform has to offer.